Qualification as REIT. The REIT is organized and operated in a manner so as to qualify for taxation as a REIT pursuant to Sections 856 through 860 of the Code.
Qualification as REIT. The Manager is authorized to determine whether to have the Company elect to qualify as a REIT, and, if such an election is made, to conduct the business of the Company in such manner as is necessary to cause the Company to qualify as a REIT and maintain such qualification until such time as the Manager determines, in its sole and absolute discretion, that it is no longer in the interest of the Common Shareholders to do so.
Qualification as REIT. The Company elected to be taxed as a REIT under the Code commencing with its taxable year ended December 31, 2002. Commencing with the taxable year ended December 31, 2002 and through the date hereof, the Company has been organized and operated in conformity with the requirements for qualification and taxation as a REIT under the Code, and its current and proposed ownership and method of operation will enable it to continue to meet the requirements for qualification and taxation as a REIT under the Code for its taxable year ending December 31, 2013 and in the future. The Company intends to continue to qualify as a REIT under the Code for all subsequent years. The Company does not know of any event that would reasonably be expected to cause the Company to fail to qualify as a REIT under the Code for its taxable year ending December 31, 2013 or at any time thereafter.
Qualification as REIT. Agent shall have determined in good faith, and shall have so given notice to Borrowers' Agent that Lexington has at any time ceased to qualify, or has not qualified, as a real estate investment trust for any of the purposes of the provisions of the Code applicable to real estate investment trusts; provided, however, that no Event of Default under this Section (f) shall be deemed to have occurred and be continuing if, within thirty (30) days after notice of any such determination is given Borrowers' Agent shall have furnished Agent with an opinion of Borrowers' Agent's tax counsel (who shall be reasonably satisfactory to Agent provided that the Agent may not unreasonably withhold its approval) to the effect that the Lexington is then in a position to so qualify, or has so qualified, as the case may be, which opinion shall not contain any material qualification unsatisfactory to the Agent; or
Qualification as REIT. The failure of AHMIC (i) to continue to be qualified as a REIT as defined in Section 856 of the Code or (ii) to continue to be entitled to a dividend paid deduction under Section 857 of the Code with respect to dividends paid by it with respect to each taxable year for which it claims a deduction on its Form 1120- REIT filed with the United States Internal Revenue Service for such year, or the entering into by AHMIC of “prohibited transactions” as defined in Sections 857(b)(6)(B)(iii) of the Code (taking into account Sections 857(b)(6)(C), 857(b)(6)(D) and 857(b)(6)(E) of the Code) or (iii) to satisfy any of the income or asset tests required to be satisfied by a REIT.
Qualification as REIT. The Borrower is qualified as a REIT under the provisions of the Code, including, without limitation, the requirements for qualification as a REIT pursuant to Sections 856 through 860 of the Code.
Qualification as REIT. Either Agent or the Majority Lenders shall have determined in good faith, and shall have so given notice to Borrower, that Borrower has at any time ceased to be in a position to qualify, or has not qualified, as a real estate investment trust for any of the purposes of the provisions of the Code applicable to real estate investment trusts; provided that no Event of Default under this Section 7.1(f) shall be deemed to have occurred and be continuing if, within 10 days after notice of any such determination is given to Borrower, Borrower shall have furnished each Lender with an opinion of Borrower's tax counsel (who shall be satisfactory to the Majority Lenders provided that the Majority Lenders may not unreasonably withhold their approval) to the effect that Borrower is then in a position to so qualify, or has so qualified, as the case may be, which opinion shall not contain any material qualification unsatisfactory to the Majority Lenders; or
Qualification as REIT. The failure of AHMIC (i) to continue to be qualified as a REIT as defined in Section 856 of the Code or (ii) to continue to be entitled to a dividend paid deduction under Section 857 of the Code with respect to dividends paid by it with respect to each taxable year for which it claims a deduction on its Form 1120- REIT filed with the United States Internal Revenue Service for such year, or the entering into by AHMIC of "prohibited transactions" as defined in Sections 857(b)(6)(B)(iii) of the Code (taking into account Sections 857(b)(6)(C), 857(b)(6)(D) and 857(b)(6)(E) of the Code) or (iii) to satisfy any of the income or asset tests required to be satisfied by a REIT. An Event of Default shall be deemed to be continuing unless expressly waived by Buyer in writing.
Qualification as REIT. The Company elected to be taxed as a REIT under the Code commencing with its taxable year ended December 31, 2002. Commencing with the taxable year ended December 31, 2002 and through the date hereof, the Company has been organized and operated in conformity with the requirements for qualification and taxation as a REIT under the Code, and its current and proposed ownership and method of operation will enable it to continue to meet the requirements for qualification and taxation as a REIT under the Code for its taxable year ending December 31 of the year in which the Applicable Time occurs and in the future. The Company intends to continue to qualify as a REIT under the Code for all subsequent years. The Company does not know of any event that would reasonably be expected to cause the Company to fail to qualify as a REIT under the Code for the taxable year ending December 31 of the year in which the Applicable Time occurs or at any time thereafter.
Qualification as REIT. Either Administrative Agent or the Majority Lenders shall determine in good faith, and shall give notice to Borrower that Borrower has at any time ceased to be in a position to qualify, or has not qualified, as a real estate investment trust for any of the purposes of the provisions of the Code applicable to real estate investment trusts, or that either Guarantor or any Additional Subsidiary Guarantor has ceased to qualify as a "qualified REIT subsidiary" of Borrower under the Code; PROVIDED that no Event of Default under this Section 8.l(f) shall be deemed to have occurred and be continuing if, within 10 days after notice of any such determination is given to Borrower, Borrower shall have furnished Lenders with an opinion of its tax counsel (who shall be satisfactory to the Majority Lenders, PROVIDED that the Majority Lenders may not unreasonably withhold their approval) to the effect that Borrower or the respective Guarantor or Additional Subsidiary Guarantor, as applicable, is then in a position to so qualify, or has so qualified, as the case may be, which opinion shall not contain any material qualification unsatisfactory to the Majority Lenders; or
